Illinois Bank & Trust Mortgage Rates, Fees & Info

Rockford, IL

LEI: 54930027CDXLJ58XBO36

Tax ID: 36-1060280

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Illinois Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Illinois Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Rockford, Janesville, and Minneapolis among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Illinois Bank & Trust has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Illinois Bank & Trust is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    49

    Origination Dollar Volume (All Markets)

    $19,685,000

    Employee count

    96

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    ROCKFORD, IL (FHA|USDA|VA) 41 $17,665,000 $430,854 $728 4.70%
    Outside of Metro Areas 6 $1,000,000 $166,667 $163 5.04%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $645,000 $645,000 $0 3.75%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $375,000 $375,000 $3,905 3.00%
    Illinois Bank & Trust's top markets include Rockford, Janesville, and Minneapolis among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 49 $19,685,000 $401,735 $898 4.69%

    For 2020, Illinois Bank & Trust's most frequently originated type of loan was Conventional, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 25 $8,235,000 $329,400 $2,600 4.33%
    Refi 21 $11,365,000 $541,190 $364 5.02%
    Other 2 $70,000 $35,000 $231 5.13%
    Home Improvement 1 $15,000 $15,000 $337 6.00%

    For 2020, Illinois Bank & Trust's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 30 $7,750,000 $258,333 $398 4.65%
    Other 8 $10,520,000 $1,315,000 $0 4.27%
    10 Year 4 $240,000 $60,000 $283 5.63%
    15 Year 2 $100,000 $50,000 $163 5.50%
    1 Year 2 $480,000 $240,000 $315 4.63%
    30 Year 2 $530,000 $265,000 $3,743 3.00%
    20 Year 1 $65,000 $65,000 $613 7.50%

    For 2020, Illinois Bank & Trust's most frequently cited loan duration was 5 Year, with 30 originations. The 2nd most popular length was Other, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 10 $640,000 $64,000
    $1k-2k 2 $530,000 $265,000

    Illinois Bank & Trust's average total fees were $3,743, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 18 $3,770,000 $209,444
    3-4% 15 $14,515,000 $967,667
    5-6% 10 $670,000 $67,000
    2.5-3% 2 $530,000 $265,000
    6-7% 2 $120,000 $60,000
    7-8% 1 $65,000 $65,000
    Over 8% 1 $15,000 $15,000

    During 2020, Illinois Bank & Trust's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 4-5%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 24 $1,480,000 $61,667 $331 5.28%
    $200k-400k 8 $2,120,000 $265,000 $2,110 4.15%
    $100k-200k 7 $925,000 $132,143 $3,580 4.51%
    $1MM+ 7 $13,375,000 $1,910,714 $0 3.72%
    $600k-1MM 2 $1,350,000 $675,000 $0 3.83%
    $400k-600k 1 $435,000 $435,000 $0 4.75%

    2020 saw Illinois Bank & Trust place emphasis on $100,000 or less loans with 24 originations, totaling $1,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 4 $650,000 $162,500 $2,016 4.56%
    $50k or less 3 $135,000 $45,000 $243 6.58%
    $100k-150k 2 $320,000 $160,000 $464 6.25%
    $75k-100k 2 $30,000 $15,000 $337 5.75%
    $250k+ 1 $435,000 $435,000 $0 4.75%
    $50k-75k 1 $35,000 $35,000 $388 6.25%

    Illinois Bank & Trust lent most frequently to those with incomes in the $150k-250k range, with 4 originations. The second most popular income band? $50k or less, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 4 $480,000 $120,000 $1,189 5.00%
    20-30% 2 $270,000 $135,000 $359 7.38%
    38% 1 $65,000 $65,000 $613 7.50%
    41% 1 $15,000 $15,000 $337 5.50%
    42% 1 $85,000 $85,000 $453 6.50%
    47% 1 $155,000 $155,000 $3,580 3.00%
    50-60% 1 $35,000 $35,000 $125 5.75%
    36% 1 $65,000 $65,000 $201 5.25%

    Illinois Bank & Trust lent most frequently to those with DTI ratios of 30-36%, with 4 originations. The next most common DTI ratio? 20-30%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 34 $16,060,000 $472,353 $0 4.36%
    White 11 $2,845,000 $258,636 $679 5.64%
    Not provided 4 $780,000 $195,000 $1,558 4.94%

    Approval Rates

    Total approvals of all applications
    96.88%

    Illinois Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    83.67%

    Illinois Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 49 $19,685,000 $401,735

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $15,115,000 $1,374,091
    Single Family (1-4 Units):Site-Built 38 $4,570,000 $120,263

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $855,000 $171,000 $322 5.25%
    40-60% 5 $4,885,000 $977,000 $3,580 3.72%
    60-80% 24 $9,120,000 $380,000 $163 4.47%
    80-100% 7 $4,375,000 $625,000 $2,110 4.22%
    Under 20% 8 $450,000 $56,250 $422 6.03%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Illinois Bank & Trust 11655 U.S. 20 E. Stockton, IL 61085 Full Service B&M $34,739
    Illinois Bank & Trust 151 Main Street Elizabeth, IL 61028 Full Service B&M $31,538
    Illinois Bank & Trust 1515 West Lane Rd Machesney Park, IL 61115 Full Service B&M $23,619
    Illinois Bank & Trust 2625 Stowmarket Avenue Rockford, IL 61109 Full Service B&M $33,869
    Illinois Bank & Trust 308 W. State Street Suite 100 Rockford, IL 61101 Full Service B&M $46,948
    Illinois Bank & Trust 400 South Main Street Galena, IL 61036 Limited, Drive-thru $13,666
    Illinois Bank & Trust 4048 East State Street Rockford, IL 61108 Full Service B&M $52,836
    Illinois Bank & Trust 4571 Guilford Road Rockford, IL 61107 Full Service B&M $360,598
    Illinois Bank & Trust 6855 East Riverside Boulevard Rockford, IL 61114 Full Service B&M $563,242
    Illinois Bank & Trust 971 Gear Street Galena, IL 61036 Limited, Mobile/Seasonal Office $0
    Illinois Bank & Trust 971 Gear Street Galena, IL 61036 Full Service B&M $157,810

    For 2020, Illinois Bank & Trust had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $51,534
    Net interest income $48,116
    Total noninterest income $8,127
    Gross Fiduciary activities income $1,688
    Service charges on deposit accounts $2,551
    Trading account gains and fees $0
    Additional Noninterest Income $3,888
    Pre-tax net operating income $16,607
    Securities gains (or losses, -) $504
    Income before extraordinary items $13,598
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $13,598
    Minority interest net income $0
    Net income $13,598
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,199

    Illinois Bank & Trust's gross interest income from loans was $51,534,000.
    Illinois Bank & Trust's net interest income from loans was $48,116,000.
    Illinois Bank & Trust's fee based income from loans was $2,551,000.
    Illinois Bank & Trust's net income from loans was $13,598,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,418
    Provision for credit losses $5,118
    Total noninterest expense $34,518
    Salaries and employee benefits $11,298
    Premises and equipment expense $2,741
    Additional noninterest expense $20,479
    Applicable income taxes $3,513
    Net charge-offs $3,290
    Cash dividends $2,000

    Illinois Bank & Trust's interest expense for loans was $3,418,000.
    Illinois Bank & Trust's payroll and benefits expense were $11,298,000.
    Illinois Bank & Trust's property, plant and equipment expenses $2,741,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 2.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 1.1%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,338,677
    Deposits held in domestic offices $1,338,677
    Deposits by Individuals, partnerships, and corporations $1,249,491
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $89,186
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $243,867
    Demand deposits $194,412
    Nontransaction accounts $1,094,810
    Money market deposit accounts (MMDAs) $887,021
    Other savings deposits (excluding MMDAs) $113,935
    Total time deposits $93,854
    Total time and savings deposits $1,144,265
    Noninterest-bearing deposits $550,968
    Interest-bearing deposits $787,709
    Retail deposits $1,324,062
    IRAs and Keogh plan accounts $23,747
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,525,503
    Cash & Balances due from depository institutions $15,595
    Interest-bearing balances $4,720
    Total securities $557,848
    Federal funds sold & reverse repurchase $15,400
    Net loans and leases $870,331
    Loan and leases loss allowance $11,036
    Trading account assets $3,290
    Bank premises and fixed assets $14,266
    Other real estate owned $1,512
    Goodwill and other intangibles $20,504
    All other assets $26,757

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,525,503
    Total Liabilities $1,377,128
    Total deposits $1,338,677
    Interest-bearing deposits $787,709
    Deposits held in domestic offices $1,338,677
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $711
    Trading liabilities $3,290
    Other borrowed funds $27,313
    Subordinated debt $0
    All other liabilities $7,137

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $870,331
    Loan and leases loss allowance $11,036
    Total loans and leases (domestic) $881,367
    All real estate loans $494,693
    Real estate loans in domestic offices $494,693
    Construction and development loans $61,357
    Residential 1-4 family construction $3,916
    Other construction, all land development and other land $57,441
    Loans secured by nonfarm nonresidential properties $279,024
    Nonfarm nonresidential secured by owner-occupied properties $146,884
    Commercial real estate & other non-farm, non-residential $132,140
    Multifamily residential real estate $29,233
    1-4 family residential loans $113,682
    Farmland loans $11,397
    Loans held in foreign offices $0
    Farm loans $2,282
    Commercial and industrial loans $311,618
    To non-U.S. addressees $0
    Loans to individuals $13,593
    Credit card loans $463
    Related Plans $4,966
    Consumer Auto Loans $5,672
    Other loans to individuals $2,492
    All other loans & leases $61,260
    Loans to foreign governments and official institutions $0
    Other loans $63
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $57
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Illinois Bank & Trust had $870,331,000 of loans outstanding in 2020. $494,693,000 of loans were in real estate loans. $61,357,000 of loans were in development loans. $29,233,000 of loans were in multifamily mortgage loans. $113,682,000 of loans were in 1-4 family mortgage loans. $2,282,000 of loans were in farm loans. $463,000 of loans were in credit card loans. $5,672,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 355 $74,134 $208,828
    Nonfarm, nonresidential loans - <$100k 80 $2,947 $36,838
    Nonfarm, nonresidential loans - $100-250k 112 $13,097 $116,938
    Nonfarm, nonresidential loans - $250k-1MM 163 $58,090 $356,380
    Commercial & Industrial, US addressed loans - <$1MM 1,232 $114,879 $93,246
    Commercial & Industrial, US addressed loans - <$100k 673 $15,900 $23,626
    Commercial & Industrial, US addressed loans - $100-250k 287 $29,321 $102,164
    Commercial & Industrial, US addressed loans - $250k-1MM 272 $69,658 $256,096
    Farmland loans - <$1MM 50 $5,951 $119,020
    Farmland loans - <$100k 12 $419 $34,917
    Farmland loans - $100-250k 26 $2,965 $114,038
    Farmland loans - $250k-1MM 12 $2,567 $213,917
    Agriculture operations loans - <$1MM 73 $2,282 $31,260
    Agriculture operations loans - <$100k 61 $712 $11,672
    Agriculture operations loans - $100-250k 9 $793 $88,111
    Agriculture operations loans - $250k-1MM 3 $777 $259,000